The recession that won’t end

Cyprus is bailed out as manufacturing in the eurozone falls to a five-month low.

Cyprus has become the fifth country in the eurozone to receive a bail-out. The news overshadowed the latest eurozone economic data. The composite eurozone PMI survey, which tracks both manufacturing and services, fell back to a five-month low in March, its second successive monthly decline. The eurozone Economic Sentiment indicator, covering business and consumer confidence, fell for the first time since October.

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